ACCT. FINANCIAL PAYROLL REGISTER PAYROLL ACCOUNTING - Semester Project Gross Salaries/Wages Ending DEDUCTIONS Cummulative Hrs. Hr Rate Basic Overtime Total Wages Tot. Salaries Cumm. Fed. IT State IT Soc.Security Medicare Add+Med Medic Ins. Union dues Tot. Deduc. 141,350 $ 28,100 Employees Beginning Pam Courtney $ Bo Jones $ 114,680 Carol Willis $ 77,144 Jose' Rodriguez $ 10,846 45 $14.50 Dave Singh $ 9,876 39 $12.25 Frank Mills $ 5,346 44 $ 12.25 Keri Smart $ 4,058 37 $14.50 Totals $ 16,825 $ 12,097 Employee Payroll Journal Date Accounts Dr. Cr Wages/salaries expense XX FIT Required: From the below information provided, prepare the payroll register and the journal entries necessary. Show the journal entry for the payment of the medical insurance premium for the pay period end. Fed.IT withholding is 3% of annual gross wages up to $125,000 and 5% for gross pay over $125,000 State Income Tax is 12% of Fed. Income Tax FICA-Social security withholding is 6.2% of gross pay, up to $147,000 for 2022. FICA-Medicare is 1.45% of gross carnings. Additional Medicare tax 0.9% of cum. gross over $200,000 FUTA is 0.8% of earnings and SUTA is 5.4% of earnings, both up to $7,000 gross earnings yearly. Employee/employer pay 50:50 of weekly medical insurance premium, based on 2.5% of gross pay.. Both Mills and Smart authorized payment of union dues of 5% of gross pay. NOTES Net Pay Soc. Security On the date of payment to employees, the following is the recording of the transaction. The similar entries apply to other withholding payment, when due for payment. XX SIT XX Date Accounts Dr Cr. FICA Soc. Security XX Net wages/sal. Payable XX - Medicare XX Cash XX Add Medicare XX Medical ins. XX FICA- Social security XX Union dues XX Cash XX Net pay payable XX For FICA payments, add both employee and employer.